a study is undertaken to determine the proportion of industry executives who believe that worker's pay should be based on individual performance. How many executives should be interviewed if an estimate is desired at the 99% confidence level to be withing .06? to be within .03? to be within .02?

Answer 1

Formula to find sample size:
n = [(z-value)^2 * p * q]/E^2
... where n = sample size, z-value is found using a z-table for 99% confidence, p = .5 (when no value is stated in the problem), q = 1 - p, ^2 means squared, * means to multiply, and E = .06, .03, .02.

Plug values into the formula and calculate n. You will have 3 different answers using the E values above.

I hope this will help get you started.

Answer 2

How many executives should be interviewed if an estimate is desired at the 99% confidence interval to within ±0.06?